Additional PPA Agreements Reached
Alberta, CA -
The Government of Alberta has reached final agreements to settle power purchase arrangements (PPAs) with AltaGas Ltd. and TransCanada Energy Ltd.
The agreements will terminate the PPA held by ASTC Power Partnership, a partnership between AltaGas and TransCanada, for Sundance B. The agreements will also terminate TransCanada’s PPAs for Sundance A and Sheerness. The PPAs will be returned to the Balancing Pool.
“These agreements will help ensure Albertans receive stable, reliable power at affordable prices as we transition from coal and add more renewable energy. Moving ahead, the province looks forward to working with energy companies to power Alberta’s future.”
Marg McCuaig-Boyd, Minister of Energy
AltaGas will contribute 391,879 self-generated carbon offsets and pay $6 million to the Balancing Pool. The cash payments will be made over three years starting in 2018.
TransCanada has provided value associated with a package of carbon offset credits that it has amassed as part of its risk management efforts. The value of the credits will be reflected in TransCanada’s annual, year-end financial statements, which will be released in February 2017.
The carbon offset contribution allows the Balancing Pool greater flexibility in meeting its future greenhouse gas emissions compliance obligations for the PPAs it will hold.
This action today completely removes TransCanada Energy and AltaGas Ltd. from the court proceedings and settles the matter between them and the government as well as all arbitrations between the two companies and the Balancing Pool. Capital Power has also been removed from the government's proceeding as per its settlement with them, announced Nov. 24, 2016.
Related News
Despite delays, BC Hydro says crews responded well to 'atypical' storm
VANCOUVER - Call it the straw that broke the llama's back.
The loss of power during recent Fraser Valley ice storms meant Jennifer Quick, who lives on a Mission farm, had no running water, couldn't cook with appliances and still had to tend to a daughter sick with stomach flu.
As if that wasn't enough, she had to endure the sight of her shivering llamas.
"I brought them outside at one point and when I brought them back in, they had icicles on their fur," she said, adding the animals stayed in the warmth of their barn from then on.
For three and a half…
